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Bitcoin took a tumble today, dipping almost 3% versus the U.S. dollar, hitting an intraday low of $112,680. After that dip, the leading crypto asset by market cap bounced back, rising just above the $113,000 mark.
Bitcoin Battered as $3.66T Crypto Market Nosedives
Cryptocurrency markets took a beating today, with the crypto economy shrinking by 3.39% to $3.66 trillion by Friday evening at 7 p.m. Eastern time. Currently, bitcoin is hovering around $113,033 per coin based on the global average. However, in South Korea, BTC is trading at a premium, changing hands for $113,987 per coin at the same time.
Interestingly, bitcoin’s prior markdown, which stuck around since July 8 for 24 days, has vanished, making BTC in South Korea 0.843% pricier today. While BTC slipped almost 3%, ethereum (ETH) values plummeted by 6.9%, currently exchanging hands for $3,463 per ETH. From the total $3.66 trillion crypto market, bitcoin’s market capitalization captures 61.4%, and ethereum’s claims 11.4%.
Beyond bitcoin, a slew of other digital assets also had a tough Friday. BNB dropped 4.8%, and XRP values slid 3.1%. SOL is off 6.6%, TRX lost 1%, and DOGE took a 5.6% hit. ADA also fell 4.6% during the past day. The only tokens to brave the day’s turbulence were PUMP, up 1.65%, ENA, up 0.9%, and LEO, which climbed a mere 0.2%. A few even experienced steeper declines.
For example, HYPE dropped 10.4% against the U.S. dollar, PI slid 8.2%, and SPX fell 7.8%. CRO suffered a 6.8% setback, and JUP decreased by 7.4% today. It was a tough day all around. Overall, today painted a vivid picture of a market now in the thick of uncertainty.
The broader crypto sphere navigated a challenging session, and as usual, bitcoin’s fluctuations served as the primary indicator. By 7:30 p.m. Eastern time, BTC’s price was holding a bit stronger at $113,375 per unit.